WeightWatchers files for bankruptcy These GLP-1 firms want to help you meet your goals
As GLP-1 firms continue to bulk up, WeightWatchers (WW) is stepping off the scale.The points-system-based weight loss program filed for bankruptcy on May 6, with its premarket value plummeting 52% by Wednesday morning.A growing debt burden forced the company to scale back operations, but current members were assured they wouldn’t be affected by the filing.A reorganization plan is expected within 40 days, according to a statement released Tuesday.“As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed, and holistic solutions — grounded in community support and lasting results — has never been stronger, or more important,” said Tara Comonte, Chief Executive Officer of WW.Comonte suggested that the filing was supported by lenders, who are committed to helping the company shed its $1.15 billion debt, appeal to new customers, and innovate in the rapidly evolving weight management landscape — a space that is currently swamped with competitive GLP-1 solutions.Originally used to treat diabetes, GLP-1s have become an attractive option for those looking to suppress hunger and shed pounds fast.
The company found some relief after adding GLP-1 obesity treatment offerings in 2023, but still hasn’t strayed from the more traditional approach to weight loss, focusing on food intake and behavioral changes.On Tuesday’s call, Comonte acknowledged the surge of GLP-1 usage, but added that they are “a medication, not a miracle.”According to a recent Kaiser Family Foundation poll, roughly 6% of U.S.
adults are currently taking GLP-1 for weight loss, and the effects are impressive.A 2022 study found that people who received weekly semaglutide injections lost an average of about 15 pounds after three months.
Over the last couple of years, some insurance providers have announced they would no longer offer coverage for weight-loss medications like Ozempic.In response, some have begun turning to t...